What started as an unknown currency in 2009 has now taken the world by storm. At the time of writing this article, the price of one bitcoin is north of $50,000. Yes, you read that right, a cool fifty thousand dollars will only get you one bitcoin. This has naturally prompted several companies to churn out their own cryptocurrencies. Now when you visit a crypto exchange such as Coinbase or Binance, you will find several crypto coins that you can buy. Moreover cryptocurrency has become a viable payment method for the online gambling industry. This is particularly true for the case of cricket betting in India which has grown massively over the course of the last few years. Online gambling which was once considered a taboo in India has grown mainly due to internet penetration and low cost of smartphones. More punters are now signing up player accounts at different betting sites to be able to place bets on their favourite matches.
Similarly betting sites that offer cryptocurrency have also increased. In this article we will discuss the advantages of playing at betting sites in India that offer crypto as a payment method. These betting sites that can be accessed via cricketbettingwali.in follow the same rules and regulations as regular betting sites. The major difference being that players can use cryptos that they have from their crypto wallet to make a deposit.
If we were to break down the exact journey of how to place bets using cryptocurrency then the first step would be to create an account with a cricket betting site. The good news is that India is now spoilt for choice when it comes to offshore gambling companies offering betting products. You need to look at factors such as welcome bonus, games availability and the license held by the bookmaker when it comes to creating an account with them. Once the account has been created you then need to deposit money into the bookmaker. In the case of crypto you need to first buy the cryptocurrency of choice via the exchange and then use the cryptos to play the games. Now while you may consider this to be a slightly convoluted method of placing bets, there are several advantages to be had with this approach. Here are some of the advantages of playing at bookmakers with cryptocurrency.
Unlike regular payment methods such as bank transfers, crypto payments are carried out without third-party involvement. This means that transactions proceed with utmost speed.
As per the last point, the lack of third-party involvement means that players pay low fees or in certain cases no fees at all.
With regular bookmakers, when placing deposits, you are required to provide sensitive information when using your bank card or debit or credit cards. With cryptocurrency, your personal information is kept safe and anonymous from others. This is hailed as one of the most defining factors of crypto technology and is something that is especially preferred by punters in India. Remember, online gambling in India is still illegal as per the Gambling Act of 1867. So you are better off making deposits and withdrawals while maintaining your anonymity.
Blockchain technology allows punters to access their payment history. This means that players can browse through the record of all transactions to make sure the casino or betting site is not swindling the customer. Furthermore the wallets that are created in cryptocurrency are protected and difficult to hack.
Now this may be a bit controversial but with cryptocurrency you are not obliged to pay taxes. There are a few reasons for this. First, governments have still not figured out how to tax this currency. Given how new the payment method is compared to others, the governments are still trying to get their heads around on how to tax this payment method.
These are just some of the advantages of using cricket betting sites that offer cryptocurrency. Now the next thing you need to look out for are the specific bookmakers that offer this as a payment method. While Bet365 is a global brand, unfortunately they do offer crypto as a payment method. Casino Days on the other hand is the new kid on the block that is offering a highly localised product for punters in India. Not only is their welcome bonus a mouth watering Rs100,000 but they offer a great selection of casino games and betting options. The best bit is that cryptocurrency is fully supported here and you are able to deposit using the four major coins including bitcoin, Ethereum, Litecoin and Ripple.
To conclude this article, we would like to say that playing at cryptocurrency sites offers several advantages over regular sites. Not only do they offer similar betting options if not more, they also allow you to make place bets using the latest and most secure payment method there is i.e cryptocurrency.